Current context: The meeting of the Financial Action Task Force (FATF) has begun in Paris on 16th Feb 2020.
a. Geneva
b. Paris
c. Washington D.C.
d. Cologny
- The plenary session of the FATF will review progress made by Pakistan towards terror financing and some other countries that present a risk to the financial system.
- Six days of meetings will focus on global action to curb terror financing and reduce the harm caused to people and society.
- India will stand on its demand to cut finances to terrorist groups, seeking action against Jaish-e-Mohammed chief Maulana Masood Azhar and Lashkar-e-Taiba leader Zaki-ur-Rehman Lakhvi.
- Pakistan was placed on the 'grey list' by FATF in June 2018.
- It was given a plan of action to complete by October 2019 or face the risk of being placed on the blacklist.
- By October 2019, the FATF had noted that Pakistan had addressed only five out of the 27 tasks given to it in controlling funding to terror groups.
- The intergovernmental organisation had asked Pakistan to complete its full action plan by February 2020.
- The Financial Action Task Force (FATF) was established in July 1989 by a Group of Seven (G-7) Summit in Paris.
- Initially, its focus was to examine and develop measures to combat money laundering.
- In October 2001, the FATF expanded its mandate to incorporate efforts to combat terrorist financing.
- In April 2012, it added efforts to counter the financing of proliferation of weapons of mass destruction.
- FATF Headquarter: Paris, France
- Membership: 39
- President: Xiangmin Liu
Question:
Q.1 The headquarter of the Financial Action Task Force (FATF) is in ___________?a. Geneva
b. Paris
c. Washington D.C.
d. Cologny
